Kaye Scholer recently provided pro bono legal representation to ACCION International in connection with its investment in UGAFODE Microfinance Limited, one of the fastest growing microfinance institutions in Uganda. ACCION will be investing approximately UGX 4.8 billion (US $1.4 million) into UGAFODE and will focus on developing and expanding its digital financial services—notably agent banking—and mobile money services that are tailored to support farmers, businesses, and communities excluded from Uganda’s formal economy.
ACCION is a not-for-profit corporation that focuses on investing in, and providing support services to, microfinance institutions throughout the world. Since 1961, ACCION has been dedicated to building a financially inclusive world—one in which each person, regardless of economic status, can capitalize on his or her own capability and achieve real economic gains.
Bankruptcy & Restructuring associates Michael Greenblatt and Samantha Braunstein led the effort, with the assistance of Investment Management partner Stephen Culhane. Greenblatt had built a relationship with ACCION while at his prior firm an, together with Bankruptcy & Restructuring partner Stephen Rutenberg, introduced them to Kaye Scholer.
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